Vedder Price is pleased to announce that six attorneys have been named Shareholders in the firm.

“On behalf of the Executive Committee, I would like to congratulate our newest shareholders on this well-deserved achievement,” said Dana S. Armagno, Vedder Price Operating Shareholder. “Joseph, Justine, Brooke, James, Nate and Alex are all extremely talented lawyers and each is committed to the firm and its clients. They are passionate about the future of the firm and consistently deliver outstanding client service. Their elevation to shareholder contributes to our collective strength, and we are deeply proud of the exceptional talent they represent here at Vedder Price.”

Joseph T. Bueche, elevated from Associate and a member of the Finance & Transactions practice area in the Chicago office, regularly advises on a variety of transactional and general corporate matters. This includes advising private equity firms and private companies (in each case representing both buyers and sellers in domestic and cross-border transactions), auctions, divestitures, 363 transactions, restructurings, debt and equity offerings, joint ventures and minority investments. Mr. Bueche earned his J.D. from the University of Minnesota Law School, cum laude, and his B.B.A. from the University of Michigan, with distinction. 

Justine L. Chilvers, elevated from Associate and a member of the Global Transportation Finance team in the firm’s New York office, concentrates her practice in transportation finance, with a special focus on aviation and rail finance. Ms. Chilvers regularly advises commercial and investment banks, operating lessors, finance companies, hedge funds and other aircraft investors on a wide range of cross-border and domestic aircraft and rail finance transactions, including warehouse financings, mortgage financings, EETCs and significant term loan financings, aviation-related M&A transactions and joint ventures and numerous other aviation and rail-related acquisition, sale and leasing transactions. Ms. Chilvers also advises on generate corporate law matters. In 2021, Ms. Chilvers was recognized by The Legal 500 United States as a Rising Star in the Transport: Aviation & Air Travel Finance category. Ms. Chilvers earned her J.D. from Fordham University School of Law and her B.A. from the University of Pennsylvania, magna cum laude.

Brooke E. Conner, elevated from Associate, is a member of the Chambers USA-ranked Government Investigations and White Collar Defense team in the firm’s Chicago office. Ms. Conner has significant experience representing clients in investigations and proceedings brought by the U.S. Securities and Exchange Commission, the U.S. Department of Justice and other federal and state agencies. Her practice includes representing companies and individuals in government investigations, conducting internal investigations, counseling clients during regulatory examinations, and representing clients in securities litigation and other complex civil litigation matters. Ms. Conner earned her J.D. from Loyola University Chicago School of Law, magna cum laude, and her B.A. from Miami University, magna cum laude.

James Kilner, elevated from Associate and a member of the Global Transportation Finance team in the firm’s Chicago office, has experience in a wide range of banking and finance transactions, focusing in particular on cross-border asset financing, secured lending structures and general and structured financings. Mr. Kilner also represents aviation sales and lease-backs, and operating leases as well as ECA guaranteed loan financings. In 2021, Mr. Kilner was recognized by The Legal 500 United States in the category of Transport: Aviation & Air Travel – Finance. Mr. Kilner received his law degree from BPP Law School, London, and his LL.B. from the University of Birmingham, with honors. 

Nathaniel Segal, elevated from Counsel and a member of the Investment Services group in the firm’s Chicago office, has substantial experience counseling investment companies, investment advisers and boards of directors on a broad range of regulatory, compliance, corporate and transactional matters arising under U.S. federal securities laws, particularly the Investment Company Act of 1940, the Investment Advisers Act of 1940 and the Securities Act of 1933. Mr. Segal is the author of numerous articles concerning the financial services and investment management industries and frequently speaks on compliance topics and critical regulatory developments. He is also Co-Editor of the Investment Services Regulatory Update, a monthly publication that keeps clients updated on relevant regulatory matters. Mr. Segal has received many awards, including four consecutive recognitions by Leading Lawyers as an Emerging Lawyer in the category of Securities & Venture Finance from 2017 to 2020. Mr. Segal received his J.D. from the Benjamin N. Cardozo School of Law, and his B.A. from George Washington University, cum laude.

Alex C. Weinstein, elevated from Associate and a member of the Labor and Employment practice group in the firm’s Chicago office, represents employers of all sizes in employment litigation and counseling. Mr. Weinstein prides himself on being a businessperson’s attorney, providing practical legal advice that allows businesses to mitigate or respond to potential legal risk while continuing to meet their objectives. To that end, Mr. Weinstein focuses his practice on restrictive covenants and trade secret protection, employment litigation, employment advice and counseling, and federal government contractor employment compliance. Mr. Weinstein was selected as a “Rising Star” by Super Lawyers Magazine from 2019 to 2021. He was also selected for the 2021 and 2022 editions of Best Lawyers: “Ones to Watch.” Mr. Weinstein received his J.D. from the George Washington University Law School with honors, and his B.A. from George Washington University, magna cum laude. 

Vedder Price is pleased to announce that Julia Angelica Muhsen and Nanxi You, first-year law students at University of California, Berkeley, School of Law and Washington University School of Law, have been named the recipients of the 2022 1L Diversity Scholarships in Chicago and New York, respectively. This is the 18th year Vedder Price has offered the scholarships, which provide both a monetary award and placement in the firm’s Summer Associate Program.

Ms. Muhsen will work with all practice areas at the firm. Prior to attending the University of California, Berkeley, School of Law, Ms. Muhsen received her undergraduate degree from Columbia University in New York, where she made the Dean’s list for seven semesters, and received multiple awards and accolades, including the CSER Departmental Excellence in Scholarship Award and the Office of Multicultural Affairs Award. Ms. Muhsen currently works on the Post-Conviction Advocacy Project at Berkeley Law as a Student Advocate with UnCommon Law, and collaborates with lead attorneys to provide pro bono legal services for incarcerated people preparing for parole.

“As someone born and raised in Chicago, I wanted a firm that reflected my love for not only my city, but the communities I come from,” Ms. Muhsen said. “Vedder Price’s commitment to diversity and equity has not only been clear from my time in law school, but also from growing up in the city and seeing Vedder Price’s sponsorship of important equity efforts, such as the National Museum of Mexican American Art. I hope that my time with Vedder this summer will not only help build my skills as a young attorney, but help me lay a foundation for my future career in my hometown.”

Ms. You will primarily work with the firm’s Global Transportation Finance practice area. Ms. You received her undergraduate degree from Columbia University and studied abroad at the London School of Economics and Political Science. Prior to attending Washington University School of Law, Ms. You worked as an Early Learning Specialist for Sunset Park Family Health Center at NYU Langone, where she provided early literacy support and child development guidance to Mandarin-speaking families and children.

“As an immigrant and the first in my family to attend law school, I feel very privileged to have had experiences that have taught me how to better advocate for myself and for other diverse individuals,” Ms. You said. “As I enter the legal profession, I hope that I can work with like-minded colleagues who recognize the value in perspectives of individuals from different backgrounds and experiences. I chose Vedder Price because I felt that I was able to have candid conversations about diversity with the attorneys that I spoke with and because I felt that the firm was invested in me and my professional development. The Diversity Scholarship is an incredible opportunity to learn from mentors who are committed to making the legal profession a more inclusive one.”

“We are thrilled to welcome Julia and Nanxi to the firm this summer,” said Andrew Torre, Chair of Vedder Price’s Diversity & Inclusion Committee. “Both Julia and Nanxi are exceptionally talented individuals and law students with unique and diverse worldviews. We look forward to them joining the firm as Summer Associates and advancing our commitment and investment in the next generation of diverse lawyers, both within the firm and the legal profession in general.”

To learn more about the Vedder Price Diversity Scholarship, click here.

Vedder Price is pleased to announce that six attorneys have been named Shareholders in the firm.

“On behalf of the Executive Committee, I would like to congratulate our newest shareholders on this well-deserved achievement,” said Dana S. Armagno, Vedder Price Operating Shareholder. “Joseph, Justine, Brooke, James, Nate and Alex are all extremely talented lawyers and each is committed to the firm and its clients. They are passionate about the future of the firm and consistently deliver outstanding client service. Their elevation to shareholder contributes to our collective strength, and we are deeply proud of the exceptional talent they represent here at Vedder Price.”

Joseph T. Bueche, elevated from Associate and a member of the Finance & Transactions practice area in the Chicago office, regularly advises on a variety of transactional and general corporate matters. This includes advising private equity firms and private companies (in each case representing both buyers and sellers in domestic and cross-border transactions), auctions, divestitures, 363 transactions, restructurings, debt and equity offerings, joint ventures and minority investments. Mr. Bueche earned his J.D. from the University of Minnesota Law School, cum laude, and his B.B.A. from the University of Michigan, with distinction. 

Justine L. Chilvers, elevated from Associate and a member of the Global Transportation Finance team in the firm’s New York office, concentrates her practice in transportation finance, with a special focus on aviation and rail finance. Ms. Chilvers regularly advises commercial and investment banks, operating lessors, finance companies, hedge funds and other aircraft investors on a wide range of cross-border and domestic aircraft and rail finance transactions, including warehouse financings, mortgage financings, EETCs and significant term loan financings, aviation-related M&A transactions and joint ventures and numerous other aviation and rail-related acquisition, sale and leasing transactions. Ms. Chilvers also advises on generate corporate law matters. In 2021, Ms. Chilvers was recognized by The Legal 500 United States as a Rising Star in the Transport: Aviation & Air Travel Finance category. Ms. Chilvers earned her J.D. from Fordham University School of Law and her B.A. from the University of Pennsylvania, magna cum laude.

Brooke E. Conner, elevated from Associate, is a member of the Chambers USA-ranked Government Investigations and White Collar Defense team in the firm’s Chicago office. Ms. Conner has significant experience representing clients in investigations and proceedings brought by the U.S. Securities and Exchange Commission, the U.S. Department of Justice and other federal and state agencies. Her practice includes representing companies and individuals in government investigations, conducting internal investigations, counseling clients during regulatory examinations, and representing clients in securities litigation and other complex civil litigation matters. Ms. Conner earned her J.D. from Loyola University Chicago School of Law, magna cum laude, and her B.A. from Miami University, magna cum laude.

James Kilner, elevated from Associate and a member of the Global Transportation Finance team in the firm’s Chicago office, has experience in a wide range of banking and finance transactions, focusing in particular on cross-border asset financing, secured lending structures and general and structured financings. Mr. Kilner also represents aviation sales and lease-backs, and operating leases as well as ECA guaranteed loan financings. In 2021, Mr. Kilner was recognized by The Legal 500 United States in the category of Transport: Aviation & Air Travel – Finance. Mr. Kilner received his law degree from BPP Law School, London, and his LL.B. from the University of Birmingham, with honors. 

Nathaniel Segal, elevated from Counsel and a member of the Investment Services group in the firm’s Chicago office, has substantial experience counseling investment companies, investment advisers and boards of directors on a broad range of regulatory, compliance, corporate and transactional matters arising under U.S. federal securities laws, particularly the Investment Company Act of 1940, the Investment Advisers Act of 1940 and the Securities Act of 1933. Mr. Segal is the author of numerous articles concerning the financial services and investment management industries and frequently speaks on compliance topics and critical regulatory developments. He is also Co-Editor of the Investment Services Regulatory Update, a monthly publication that keeps clients updated on relevant regulatory matters. Mr. Segal has received many awards, including four consecutive recognitions by Leading Lawyers as an Emerging Lawyer in the category of Securities & Venture Finance from 2017 to 2020. Mr. Segal received his J.D. from the Benjamin N. Cardozo School of Law, and his B.A. from George Washington University, cum laude.

Alex C. Weinstein, elevated from Associate and a member of the Labor and Employment practice group in the firm’s Chicago office, represents employers of all sizes in employment litigation and counseling. Mr. Weinstein prides himself on being a businessperson’s attorney, providing practical legal advice that allows businesses to mitigate or respond to potential legal risk while continuing to meet their objectives. To that end, Mr. Weinstein focuses his practice on restrictive covenants and trade secret protection, employment litigation, employment advice and counseling, and federal government contractor employment compliance. Mr. Weinstein was selected as a “Rising Star” by Super Lawyers Magazine from 2019 to 2021. He was also selected for the 2021 and 2022 editions of Best Lawyers: “Ones to Watch.” Mr. Weinstein received his J.D. from the George Washington University Law School with honors, and his B.A. from George Washington University, magna cum laude. 

Vedder Price is pleased to announce that Julia Angelica Muhsen and Nanxi You, first-year law students at University of California, Berkeley, School of Law and Washington University School of Law, have been named the recipients of the 2022 1L Diversity Scholarships in Chicago and New York, respectively. This is the 18th year Vedder Price has offered the scholarships, which provide both a monetary award and placement in the firm’s Summer Associate Program.

Ms. Muhsen will work with all practice areas at the firm. Prior to attending the University of California, Berkeley, School of Law, Ms. Muhsen received her undergraduate degree from Columbia University in New York, where she made the Dean’s list for seven semesters, and received multiple awards and accolades, including the CSER Departmental Excellence in Scholarship Award and the Office of Multicultural Affairs Award. Ms. Muhsen currently works on the Post-Conviction Advocacy Project at Berkeley Law as a Student Advocate with UnCommon Law, and collaborates with lead attorneys to provide pro bono legal services for incarcerated people preparing for parole.

“As someone born and raised in Chicago, I wanted a firm that reflected my love for not only my city, but the communities I come from,” Ms. Muhsen said. “Vedder Price’s commitment to diversity and equity has not only been clear from my time in law school, but also from growing up in the city and seeing Vedder Price’s sponsorship of important equity efforts, such as the National Museum of Mexican American Art. I hope that my time with Vedder this summer will not only help build my skills as a young attorney, but help me lay a foundation for my future career in my hometown.”

Ms. You will primarily work with the firm’s Global Transportation Finance practice area. Ms. You received her undergraduate degree from Columbia University and studied abroad at the London School of Economics and Political Science. Prior to attending Washington University School of Law, Ms. You worked as an Early Learning Specialist for Sunset Park Family Health Center at NYU Langone, where she provided early literacy support and child development guidance to Mandarin-speaking families and children.

“As an immigrant and the first in my family to attend law school, I feel very privileged to have had experiences that have taught me how to better advocate for myself and for other diverse individuals,” Ms. You said. “As I enter the legal profession, I hope that I can work with like-minded colleagues who recognize the value in perspectives of individuals from different backgrounds and experiences. I chose Vedder Price because I felt that I was able to have candid conversations about diversity with the attorneys that I spoke with and because I felt that the firm was invested in me and my professional development. The Diversity Scholarship is an incredible opportunity to learn from mentors who are committed to making the legal profession a more inclusive one.”

“We are thrilled to welcome Julia and Nanxi to the firm this summer,” said Andrew Torre, Chair of Vedder Price’s Diversity & Inclusion Committee. “Both Julia and Nanxi are exceptionally talented individuals and law students with unique and diverse worldviews. We look forward to them joining the firm as Summer Associates and advancing our commitment and investment in the next generation of diverse lawyers, both within the firm and the legal profession in general.”

To learn more about the Vedder Price Diversity Scholarship, click here.

Major sanctions and export control restrictions against Russia are near, and companies doing business with Russia must be prepared. 

Sanctions Bill Nearing a Vote in the U.S. Senate

With news of Russia’s continued proliferation of armed forces at the border of Ukraine, the United States is poised to impose additional economic sanctions against Russia that one Pentagon spokesperson described as unlike any other sanctions adopted to date.  Even without a physical invasion, new Russia sanctions are likely in the pipeline. The U.S. Senate Committee on Foreign Relations is preparing a bipartisan sanctions bill which Chair Bob Menendez described as crippling to Russia’s economy if implemented. The Senate is currently debating the bill and could pass it as early as this week. 

The original Senate bill was introduced by Menendez as the Defending Ukraine Sovereignty Act of 2022.  After the President makes a determination that the Government of Russia is “engaged in or knowingly supporting a significant escalation in hostilities” which “has the aim or effect of undermining, overthrowing, or dismantling the Government of Ukraine, occupying territory of Ukraine, or interfering with the sovereignty or territorial integrity of Ukraine,” the bill requires the President to impose significant sanctions, including:  

• sanctions on 12 specified Russian officials (including Vladimir Putin himself as President of the Russian Federation);
• sanctions on at least three major Russian financial institutions, and possibly additional major institutions or subsidiaries and successors thereof;
• additional sanctions on certain providers of specialized financial messaging services to those sanctioned Russian financial institutions if they fail to cease the provision of services;
• a complete prohibition on “all transactions by United States persons involving the sovereign debt of the Government of the Russian Federation”;
• sanctions on entities “responsible for the planning, construction, or operation of the Nord Stream 2 pipeline,” as well as their corporate officers; and
• sanctions on foreign persons to be identified by the President that are involved in certain Russian extractive industries, such as oil and gas, coal mining, mineral extraction, and more.

The sanctions measures outlined in the bill include visa revocation and ineligibility/inadmissibility to the United States, as well as a U.S. block and prohibition of all transactions in property and interests in property of sanctioned persons.  The bill also provides for defense articles and specified military assistance to Ukraine, as well as strengthening support for Ukraine in the region.   

The exact sanctions which may be included in the final Senate bill are still uncertain. Updates from the Senate detail some differences that are currently being negotiated. For example, it is reported Republicans and Democrats are deeply debating whether or not to impose sanctions related to the Nord Stream 2 pipeline. 

House Bill with New Sanctions Also Introduced

A similar bill was introduced in the House of Representatives—the Putin Accountability Act, with a few differences.  For example, the bill seeks to designate Russia a state sponsor of terrorism.  However, the many similarities between the Senate and House versions (including sanctions on financial institutions and financial messaging service providers, key Russian elites, and dealings in Russian debt)  echo the likelihood that severe sanctions could be imminent. We will continue to track the bills. 

Potential New Export Controls on Certain U.S. Foreign Direct Products Bound for Russia

While the sanctions bills being considered focus on Russian oligarchs and elites, as well as financial institutions and key Russian industries, the White House also announced during a briefing that it is contemplating export control restrictions which could affect Russian producers and consumers. According to the White House briefing, the export control would deny to Russia downstream products that are critical to its own ambitions to develop high-tech capabilities in aerospace and defense, lasers and sensors, maritime, artificial intelligence, robotics, quantum and other areas. The White House claimed that these controls would have minimal impact on global supply chains because they focus on Russia only. Some observers compare the proposed export controls to those that were previously used against Huawei in China. Known as the Foreign Direct Product Rule, the controls impact items that are the direct product of certain U.S. technology or software, or produced with U.S. equipment.

How Can Companies Prepare Now? 

Multinational companies must stay alert to these changes. As we await further actions by Congress or the White House, companies should review their Russian operations, sales or contacts which could be affected by the currently proposed sanctions and export controls. Companies can also take action by looking at their screening processes to ensure that Russian transactions and counterparties are subject to the appropriate level of scrutiny given the significant increase in risk with respect to Russian dealings. If a modified version of the Foreign Direct Product Rule is imposed, it will be necessary for exporters (including non-U.S. companies producing goods abroad with U.S. technology, software or equipment) to understand whether their items may be covered by the restrictions, and to ensure proper controls are in place if so.

We are monitoring the development of these restrictions and will provide further analysis in our second installment on this topic when the restrictions are implemented.  In the meantime, please feel free to reach out to our International Trade & Compliance attorneys for assistance.  

In this issue: 

• SEC Proposes a Variety of Rules Applicable to Security-Based Swap
• SEC Proposes Significant Money Market Fund Reforms 
• SEC Proposes New Securities Lending Reporting Requirements 
• IRS Provides Temporary Guidance on Stock Distributions by Publicly Offered RICs and REITs 
• SEC Staff Statement Highlights Need for Form CRS Disclosure Improvements 
• Highlights from the SEC Division of Enforcement’s 2021 Annual Report 
• SEC Settles Charges Against Operating Company for Failure to Evaluate and Disclose Director’s Breach of Independence Standards
• SEC Staff Issues Statement on LIBOR Transition with Key Considerations for Market Participants 
• SEC Chair’s Remarks Suggest Heightened Regulatory Scrutiny of Private Funds

Please join us at a complimentary, half-day session designed for in-house counsel and human resources professionals, hosted by the Vedder Price Labor & Employment group.

Event Details

Friday, May 13 | 8:30 a.m. - Noon (CT)

Fairmont Chicago - Millennium Park | Chicago, IL
200 North Columbus Drive, Chicago, IL 60601

Breakfast provided.

Who should attend: This event is intended for in-house counsel and human resource professionals.

Agenda Topics 

COVID's Impact on Employment Issues

Employee Benefits Update

The NLRB’s New Agenda – Significant Changes Impacting Union and Nonunion Employers

Nationwide Employment Hot Topics

CLE & HRCI Credit

Vedder Price is an accredited CLE provider in California, Illinois and New York; and, when possible, a sponsor in Texas and Virginia.

The use of this official seal confirms that this Activity has met HR Certification Institute’s® (HRCI®) criteria for recertification credit pre-approval.

Vedder Price is committed to adhering to applicable COVID-19 safety guidelines promulgated by local governmental health departments and authorities. All event attendees and Vedder Price personnel will be expected to follow applicable guidelines, including those required by the event space.

To learn more about other 2022 Vedder Works seminars and webinars, please click here.

Please join us for a webinar hosted by Vedder Price’s employment law team in London for a practical insight in how to best address the hot topics listed below.

Event Details

Thursday 16 June | 13:00 - 14:00 (GMT)
Online seminar

Who should attend: This event is intended for in-house counsel and human resource professionals.

Agenda

• Workplace Investigations
• Fire & Re-Hire Policies
• Hidden Disabilities in the Workplace
• Shaping Policies for Diversity & Inclusion

CPD Credit Pending

England and Wales–1.0 hour CPD.

Vedder Price is committed to adhering to applicable COVID-19 safety guidelines promulgated by local governmental health departments and authorities. All event attendees and Vedder Price personnel will be expected to follow applicable guidelines, including those required by the event space.

To learn more about other 2022 Vedder Works seminars and webinars, please click here.